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Author: gwithers Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 3859  
Subject: the cart ahead of the horse Date: 5/13/1999 6:05 PM
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I am a good investor--I stick to my rules, always. Well almost always@! I bought Cisco at 30, IBM at 50, SLB at 30, ATI at 28 and on and on. I am even happy with my MER at 94 after it went to 104, my CMB at 87 after it was at 91 and my EMC at 109 after it went to 130+. I don't chase stocks and I have done well.

Well, that is except when Schwab goes to 148 after
opening 20 points higher and after an already rediculous run on the internet brokers. Well with cash burning a hole in my pocket, I did not want to miss the next up move. Did I check PE (over 100) or any other valuation measure? Well, no! Do I always do that????? Well, yes!! Almost. But I did not. And after such a quick runup.

Oh well, the moral of the story is that it is Ok to play a hunch. But before you do, make sure it is not a "fool's" game! Take minute to relect and see if it simply makes a bit of sense. Only a real fool would not take the time.

I still love my Schwab! I would have loved it a lot more 3 days later at 111 (or 97?). I have been a client since '88 and my only complaint is that when I try to call Chuck to tell him what a good job he is doing, I can never get through. I tried 3 times and I will probably try again. Maybe after CS hits 150.
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